Sharda Motor Industries, Kinetic Group to create battery development JV

Sharda Motor Industries Limited (SMIL) has agreed to form a joint venture (JV) with Kinetic Green Energy & Power Solutions for developing battery packs with battery management systems (BMS) for electric vehicles (EVs) and also stationary applications.

Based in New Delhi, Sharda Motor Industries is an automotive component manufacturing company, while Kinetic Green Energy & Power Solutions is a Kinetic Group company, which in turn is part of Firodia Enterprise based in Pune.

Their JV company will be engaged in design, development, and assembling of lithium‐ion battery packs along with battery management systems. The company’s focus will be for developing battery packs for the quickly growing electric vehicle market in India and also other segments of energy storage applications.

Sulajja Firodia Motwani – Vice Chairperson of Kinetic Engineering Limited and Founder and CEO of Kinetic Green Energy & Power Solutions said: “We are delighted to have entered into a JV with Sharda Motor Industries. Their undeterred focus on manufacturing high‐tech products for clean mobility has been a common thread between both the entities.

“This joint venture is progression of the pioneering efforts by Kinetic group in developing EV technology, including Electric vehicles manufacturing as well as core technology and components. Our group companies are working tirelessly to contribute to the development of EV sector and ecosystem in India and battery and BMS are at the heart of EV technology.”

Sharda Motor Industries will have a majority stake in the JV, which will have a manufacturing plant in Pune, that is anticipated to begin operations by the third quarter of FY 22.

Aashim Relan – CEO of Sharda Motor Industries said: “We are excited to enter into the Electric 2 W & 3 W Market which is expected to grow very fast in the near future. The JV will mark our entry into EV components which highlights our focus on clean mobility, new product development, innovation and technology supported by Research and Development.”

Sharda Motor Industries said that is has signed a technical collaboration with the Indian Institute of Technology, Madras. As per the agreement, IIT Madras’ research and development centre – Centre for Battery Engineering and Electric Vehicle (CBEEV) will be responsible for providing the joint venture with technology for Lithium-ion battery energy storage for electric two wheelers, three wheelers, and other small electric vehicles to the JV.

The technology from IIT Madras will include advanced thermal design to cope up with adverse temperatures in India, mechanical designs to address the problem of vibrations because of varying road conditions, and also battery management system designed by CBEEV IITM to suit Indian road conditions.